Macquarie’s Green Investment Group (GIG) and the Renewable Infrastructure Development Group (RIDG) have joined forces to compete in ScotWind, the next round of seabed leasing for offshore wind development off the Scottish coast.
GIG has supported 16 offshore wind projects and 110 green energy projects across the UK to date – its most recent addition is the acquisition of a 40% stake in the 102-turbine East Anglia ONE offshore wind project, which has committed around £70 million to suppliers across the East of England.
The Scottish offshore wind developer RIDG has recently entered the offshore wind market intending to develop large-scale projects which will enhance Scottish supply chain and economy.
Ed Northam, Head of GIG Europe, said: “GIG is proud of its Scottish heritage and I’m delighted that RIDG and GIG are working from our home in Edinburgh to unlock Scotland’s fantastic offshore wind resource.
“By partnering right at the genesis of development, we’re making our earliest commitment in UK offshore wind so far.”
Mike Hay, Commercial Director at RIDG, said: “We’re delighted to be partnering with GIG on ScotWind. Together, we are answering the Scottish Government’s call for new companies to enter the offshore wind market – bringing new ways of structuring and developing projects, which boosts competition, drives innovation and unlocks new sources of investment.”